(a) An out-of-state bank that does not operate a branch in this State and that meets the requirements of this article may establish and operate a branch in this State.
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Terms Used In Hawaii Revised Statutes 412:12-105

  • Acquisition of a branch: means the acquisition of a branch located in a host state, without engaging in an "interstate merger transaction" as defined in this article. See Hawaii Revised Statutes 412:12-101
  • Bank: has the meaning set forth in 12 U. See Hawaii Revised Statutes 412:12-101
  • Bank supervisory agency: means :

    (1) Any agency of another state with primary responsibility for chartering and supervising banks; and

    (2) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies. See Hawaii Revised Statutes 412:12-101

  • Branch: means a place of business of a bank, other than its main office, which is open to the public and at which deposits are received and paid. See Hawaii Revised Statutes 412:12-101
  • Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
  • Out-of-state bank: means a bank whose home state is a state other than Hawaii. See Hawaii Revised Statutes 412:12-101
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
(b) An out-of-state bank that does not operate a branch in this State and that meets the requirements of this article may establish and operate a branch in this State through the acquisition of a branch.
(c) An out-of-state bank desiring to establish and operate a branch or to acquire and operate a branch in this State pursuant to this section shall provide to the commissioner written notice of the proposed transaction not later than the date on which the bank applies to the responsible federal bank supervisory agency for approval to establish or acquire the branch. The filing of the notice shall be accompanied by a filing fee of $9,000 or a greater amount as the commissioner may establish by rule pursuant to chapter 91. The filing fee shall be nonrefundable.
(d) No branch of an out-of-state bank may be established or acquired in this State under this section, unless:

(1) The out-of-state bank confirms in writing to the commissioner that as long as it maintains a branch in this State, it shall comply with all applicable laws of this State;
(2) The applicant provides to the commissioner satisfactory evidence of compliance with the applicable requirements of chapter 414 relating to foreign corporations; and
(3) The commissioner, acting within thirty days after receiving notice of an application under subsection (c), certifies to the responsible federal bank supervisory agency that the requirements of this article have been met.
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